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"China's strong performance on the Midas List demonstrates that the country is continuing to produce a number of high-growth and highly-valued companies. While sometimes unknown in the US, these businesses can become globally significant, such as with Bytedance, the owner of popular app TikTok (known as Douyin in China), and they generate returns any venture capitalist would desire," added Konrad.

"Counting in the 30 million yuan in rent, we have to burn 2.5 million yuan every day," Wu Guoping, founder of Grandma's Home, was quoted as saying by Beijing News.

"Constructive cooperation will enhance both of us and even enrich the world," he said. "Neither of us will have to give up anything it holds dear."

"China's import duty on US pecans had long been set at 24 percent, but since 2015, China agreed to reduce the tariffs twice - and now the rate is only 7 percent," said Matthew Bailey, a pecan grower in Georgia.

"Chinese consumers have shown growing awareness of their health conditions since the outbreak of COVID-19 earlier this year, and they have indicated a higher recognition of TCM. Besides, the government is increasing its support of the TCM segment ahead of the country's Healthy China 2030 initiative," he said.